Entrepreneurs
People who assume all the risk of creating, organizing, and operating a business
Who is an entrepreneur?
Piggybacking off of one's success and stating a business under another companies name/sell their products.
What is franchising?
The abbreviation of SMARTER stands for?
•Clear instructions and expectations
•Not much input from others
•Manager makes the decisions
•Clear hierarchical structure
•Lots of pressure on the manager
•Helpful in life or death circumstances
What is autocratic?
What does S in SWOT mean?
Who directly competes with McDonalds?
EX: Burger King
Innovative and have a vision
Takes risks
Motivated to succeed
Flexible and self-directed
Works well with outers and has good leadership skills
“System thinkers” - they see the big picture
What are the traits of an entrepreneur?
You are the sole owner
What is sole proprietorship?
Is this goal measurable?
I will make $100,000,000,000,000 in 10 years!
What is True/Yes?
•Consults staff/ team members
•Input from others is valued
•Employees are encouraged to share ideas
•Manager still makes the final decision
•May take longer for a decision to be made
•Not all employees feel heard
What is democratic?
What does W in SWOT mean?
Weakness
Who indirectly competes with Zaxbys?
EX: Waho
Risk of failure, losing their career/reputation, and financial failure
What are the risks of being an entrepreneur?
You and another person own the business
Is this goal realistic?
I will take over the entire world and sell it to aliens!
What is false/no?
•Managers are mentors
•Employees make their own decisions
•Managers are not involved in everyday tasks
•Hands off management
What is Laissez-faire?
What does O mean in SWOT?
What is opportunity?
A small business is?
Independently owned/operated & not dominant in its field of operation!
Someone who is satisfied with keeping their business small in order to achieve a balanced lifestyle!
What is a microprenuer?
A combination of an S/C corp and a proprietorship or partnership
What is an LLC?
Is this goal Timely?
I will make $100,000,000,000,000!
Mount Pisgah is this kind of org structure!
What is flat?
What does T mean in SWOT?
What are threats?
Give me one sales promotion idea for a restaurant!
Ex: BOGO
Someone who creates a fast-growing business focused on expanding!
What is a growth entreprenuer?
Pros of this type of business:
Really easy to raise money, they sell off stocks that the company owns!
What is a corpoartion?
Is this specific?
I will make money!
•Manager provides clear, overarching direction
•Managers provide encouragement and focus on growth
•Promotes innovation
•Works best when employees are highly skilled and motivated
What is transformational?
Give me a 1 strength and 1 weakness to McDonald's!
Up to Coach Trey
a balance sheet shows what?
The balance of assets, liabilities, & owners' equity!
Ideas for a new company often starts when someone notices a product isn’t being offered yet!
What is opportunity knocks or opportunity?
The things S/C corps have that sole proprietorships and partnerships don't have
What are stocks?
or:
Board members
Set of tax rules
Give me an example of a smarter goal
Up to coach Trey's!
organizational structure means that management is broken down into several layers, with executives on top and normal employees on the bottom. A top-down structure is another way to refer to this type!
What is a tall organizational structure?
Give me one opportunity and threat to Zaxbys!
Up to Coach Trey!
Give me the accounting equation!
Assets = Liabilities + owners equity